Sedgwick Buys Housing Firm and Legal Administration Service
Sedgwick has acquired two new subsidiaries: Temporary Accommodations, an Atlanta-based firm that finds temporary lodging for policyholders while their homes are being restored; and JND Legal Administration, which provides administration services for class-action lawsuits.
Sedgwick, an international claims management provider based in Memphis, Tennessee, said Temporary Accommodations focuses on cost management and stress reduction to improve insurers’ customer experience and negotiates preferential housing and hotel rates to control costs.
The firm was founded in 1996 by Aaron Wilson, who at that time was a sales representative for a rental furniture and corporate housing company. Terms of the transaction were not disclosed.
JND provides mass tort and lien resolution, electronic discovery, government redress and legal noticing services. The company, headquartered in Seattle, employs 250. It has regional offices in Los Angeles, Minneapolis, New York and Washington, D.C.
Davies Acquires Sionic
Davies, a London-based international claims management provider, has acquired Sionic, an international consulting and technology firm that serves the insurance and banking industries.
Sionics has expanded its international offering in recent years to meet the increasing regulatory, commercial, trading and technology needs for insurance, banking and other regulated markets, Davies said in a press release.
The company’s 340 employees operate in the United Kingdom, United States, Switzerland, India and Spain. Davies said it will fold the firm into its consulting and technology practice, headed by Chief Executive Officer Mark Grocott.
Sionic’s CEO, Craig Sher, will join Davies executive leadership team, Davies said.
Claimatic Awarded Patent for Claims Software
Claimatic has obtained a United States patent for a software program that triages, routes and assigns thousands of claims in seconds, the company said in a press release.
The invention uses an algorithmic software system that triages the insurance claims intake details to determine severity, perils, location, and other attributes, Claimatic said. The software then uses collected data to identify optimal internal and external resources and vendors to apply to each claim based on location, availability, licensing, severity, complexity and other data elements
“In just seconds, the algorithm considers millions of different permutations helping carriers drastically increase operational speed,” the San Antonio-based company said.
Online records for the US Patent and Trademark Office show Claimatic applied for the patent in 2019.
“The insurance industry is a minefield of complexities that we strive to simplify through the integration of industry expertise and technology,” stated Larry Cochran, founder and chief executive officer.
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